NAPEO
December 2022/January 2023
THIS MONTH'S FOCUS: The Future of the PEO Industry
ROGER HAYS AND PASSIOHR: FORGING HIS OWN PATH
Roger Hays has never been afraid to walk through an open door. Figuratively, that is. To hear him tell it, his career has been one happy accident after another. No one goes to college to become a PEO owner he says. The president of Englewood, Colorado-based PassioHR, Roger has been a stalwart member of NAPEO since he had the chance to join. He crisscrosses the country to attend events, dials into committee calls and webinars, and even leads a panel from time to time. He’s also a NAPEO PAC donor and the Colorado Leadership Council Chair. He didn’t begin his career in the PEO industry, though.
BY Chris Chaney
December 2022/January 2023CONTENTS
FEATURED
ASK THE EXPERTS: M&A EDITION
Six M&A experts from across the PEO industry weigh in on the market, where things are headed, and what buyers and sellers should keep in mind.
BY
December 2022/January 2023BUILDING A MORE CYBERSECURE WORLD IN 2023
As someone who has spent the past 20-plus years studying cybersecurity and supporting commercial, defense and intelligence organizations, I joined the PEO space earlier this year because I saw an opportunity to help this industry improve its cyber protections. Doing so is vital to help protect them and the small- and medium-sized businesses (SMBs) that make up the lion’s share of companies.
BY Dwayne Smith
December 2022/January 2023MOVING ON UP: HOW TO ATTRACT LARGE CLIENTS
As the PEO industry continues to grow across the country, one of the larger segments of untapped potential is the larger side of the SMB equation. I mean clients with 100 to 500 employees. As a PEO with several clients over 100 employees, there are certain things we have learned that make this marketplace desirable. Here are a few pointers to achieve success in this rewarding niche.
BY Bill Maness
December 2022/January 2023NEW PRIVACY LAWS IN 2023: COMPLICATING DATA PROTECTION EFFORTS
As we begin to close out the year and look ahead to 2023, one trend we believe should garner significant attention from PEOs is data protection and privacy, and the impact of new laws. Protecting data in this increasingly data-driven economy isn’t a new concept. However, when the new year rolls around, new legislation in California will take effect that will add a level of complexity to data protection efforts.
BY Fred Penn & Kelley Zanfardino
December 2022/January 2023THE INTERNATIONALIZATION OF THE PEO INDUSTRY
When writing his theories on evolution, Professor Leon C. Megginson said, “It is not the strongest or the most intelligent who will survive, but those who can best manage change.” The global business world continues to shrink for the modern employer, and change is inevitable. New business opportunities are just an email away. Employees want remote work options, and employers wish to find talent wherever they can. As businesses expand their borders regarding services and products, and evolve their internal company makeup, international barriers still exist- laws, language, and resources. However, enterprises view these obstacles as manageable. There are avenues to expand globally, and our clients are looking for those solutions.
BY Elisabeth Shaw
December 2022/January 2023TRACKS
We’ve made it to December! I hope you and your family enjoyed your Thanksgiving together. Like a blink of an eye, 2022 is almost wrapped! And yes, this is the most wonderful time of year for many reasons! Another year is in the books, and we are starting our year off with the highest of hopes for the one ahead to be the best yet. Before we jump into 2023, take a walk with me as we recap this past month.
BY Kristen J. Appleman
December 2022/January 20232022 ELECTION ANALYSIS: WHAT HAPPENED AND WHAT IT MEANS FOR PEOS
As of the writing of this article, it appears that the Democrats will retain control of the Senate. The only question is whether their majority is 50-50 (with Vice President Harris breaking ties) or 51-49. That will be determined by the Georgia run-off between incumbent Sen. Raphael Warnock and challenger Herschel Walker. The House of Representatives will be controlled by the Republicans, though by a very slim margin. From a legislative perspective, with Republican’s controlling the House, President Biden’s remaining legislative agenda has little to no possibility of being enacted. Split control of Congress means that the only bills that will be enacted into law will have to be bipartisan in nature. This is another way of saying “expect gridlock” this session of Congress.
BY Thom Stohler
December 2022/January 2023NAVIGATING EARNED WAGE ACCESS OPTIONS: FINDING THE RIGHT SOLUTION
Earned wage access (EWA) is the increasingly accepted term referring to an employee’s ability to access a portion of earned wages in between pay periods. EWA is not a loan, but an advance payment on funds available in the employees’ next paycheck. Financial technology advancements have allowed for significant growth in EWA solutions. However, growing input from state and federal regulatory agencies suggests that PEOs need to carefully consider which solutions most closely adhere to regulatory guidance.
BY Edward Cole
December 2022/January 2023The challenge with a monthly magazine column is that it really can’t be entirely timely, in that it is written several weeks before the magazine comes out. So, as I sit to write this, the elections have concluded, but not all the results are in. But it is the top-of-mind issue for everyone here in Washington, and for a good chunk of our membership. While the pundits debate who the real winners were in this election, I can tell you that the one clear winner here was the PEO industry.
BY Pat Cleary
December 2022/January 2023PEOS’ ROLE IN ADDRESSING WORKPLACE STRESS
The pandemic was a wake-up call for many of the largest U.S. companies who have since implemented a wide range of initiatives to address mental health concerns among their employees. PEOs have a role to play in addressing the issue of stress in the workplace and the social stigma surrounding mental health, for our internal employees, for our clients, and for our communities.
BY Charlie Vance
December 2022/January 2023